King-Chapter 1415 - 269, Reform

It’s unclear whether the pressure was too overwhelming or Hudson’s words had some effect, but upon returning to the Capital, the Minister of Finance stopped dead in his tracks and ceased all action.

At first, everyone felt reassured, thinking it was a great political victory. But soon, the laughter faded for all sides.

The first to feel the strain were the various government departments. Funding for new projects was halted entirely upon reaching the Ministry of Finance.

When questioned, the answer was consistent—there was no money!

Causing a scene didn’t help. The kingdom’s finances were genuinely at rock bottom. Even subsidies intended for Noble Lords harmed on the frontline could only be issued at a discount.

As problems continued piling up, the major factions in the court realized the gravity of the situation. Financial issues were already threatening the kingdom’s governance.

"Count Francis, what’s going on with the Ministry of Finance lately? Why has government funding been repeatedly blocked?"

Caesar IV questioned angrily, his face full of fury.

The Ministry of Finance was showing blatant disrespect—several of the important projects he had personally intervened in had stalled at the funding stage.

"Your Majesty, there’s no money!

We’ve done our best to raise funds, but external parties are concerned the kingdom might go bankrupt like the Moxi Duchy, so we can’t secure loans, and even government bonds aren’t selling.

Monthly revenue is devoured entirely on the first day of every month. Here’s the project list. If anyone thinks a certain project can be cut, feel free to voice your opinion!"

Count Francis shrugged as he spoke.

The "borrow new loans to repay old debts" trick wasn’t working anymore—it was a shared burden between the Ministry of Finance and the government.

The prior three debt repayment plans had caused a massive uproar on the court floor, with creditors scrambling to collect their payments. Who would dare funnel more funds into such a bottomless pit?

The less money there was, the harder it became to borrow money. Such was human nature.

With no funds coming in, the Ministry of Finance naturally resorted to doing the bare minimum. After all, the government’s revenue was limited and could only cover the expenses of certain projects.

Theoretically, the tactic of robbing Peter to pay Paul could buy some time. Clearly, Count Francis had no intention of becoming the villain here.

Aside from the essential military expenditure, which was immediately allocated, the remaining treasury-approved expenses were strictly given out on a first-come, first-served basis.

The accounts were remarkably transparent—every expense bore the joint signatures of Caesar IV and the Chancellor, so there was no pinning the blame on him.

After quickly scanning the account ledger, Caesar IV tossed the document to his ministers for them to pass around and review.

Deep down, his dissatisfaction with Count Francis reached its peak, even sparking the notion of replacing him. Yet, such thoughts were quickly dismissed.

Unlike other key figures in government departments, the kingdom’s Minister of Finance was the least concerned with job security. The position was typically filled by persuading the candidate to take up the role.

Indeed, the prestige and authority were real, but the pressures were genuine too. Forget about gaining personal benefits—simply patching up the financial sinkhole was a feat only achieved by capable and diligent officials.

As for solutions to the financial predicament, there was indeed one, though it had been tacitly ignored by all.

As a nation exhausting soldiers and wars, military expenditures had always consumed no less than three-fourths of the annual budget in recent years. Reducing these expenditures would instantly narrow the financial gap.

For instance: slashing the army’s routine expenses or disbanding several Standing Army corps.

Undoubtedly, this plan was just as disastrous as printing paper money.

The kingdom’s consensus was to annihilate the Orc Empire; anyone seeking to undermine this strategy would become a public enemy of the kingdom.

In the blink of an eye, the ministers who had previously intended to demand answers collectively fell silent.

Whether it was cutting projects or reducing expenditures for approved ones, it would offend someone.

"Isn’t there revenue coming in from the Papal State? Why isn’t it included in the financial income?"

Prime Minister Duke Delgado asked, puzzled.

To boost enthusiasm for the plundering, all forces deployed toward the Papal State were Noble’s Private Armies. Noble Lords had nearly dug through the Papal State inch by inch.

The relentless looting was bound to yield returns. In just a few months, they had already recouped the "ticket price" and entered the profit phase.

At this point, the three hundred gold coin ticket fee pre-paid by each participant had also come due for redemption. When paired with the proceeds from handling spoils, the kingdom’s government should not currently lack funds in the short term.

"Chancellor, the funds from the Papal State have only been theoretically booked; in reality, the cash we’ve received is limited. Most Noble Lords chose to offset their obligations with bulk goods like grain.

For the next two to three years, at least, there’s no shortage of military grain or textiles. However, these goods are still in transit and cannot be liquidated in the short term."

Count Francis replied expressionlessly.

Compared to other spoils, bulk goods like grain presented significant challenges in terms of liquidation, storage, and transport.

Even with traders accompanying the army’s movements, most prefer to allocate their limited transport capacity to higher-profit spoils rather than sensitive commodities like grain.

Of course, this was only a minor factor. If the Ministry of Finance genuinely wanted to liquidate assets, methods were indeed available.

However, Count Francis had his own plans. If the goods were converted into cash directly, reducing debt would become a laughable endeavor.

The best strategy was to haul back an enormous volume of bulk goods, which would overwhelm the kingdom government’s storage capacity. At that point, proposing to offset debt with these goods would be perfectly reasonable, leaving no room for complaints.

After all, much of the kingdom’s debt had been incurred under his tenure. If he didn’t deal with it properly, his life after leaving office wouldn’t be any better!

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